A new brokerage firm in Abu Dhabi capitalised at $400m is aiming to grab a slice of the global trading market by providing liquidity in foreign exchange, precious metals, commodities and derivatives markets.
ADS Securities, backed by private investors and licenced by the UAE Central Bank will offer trading that will take advantage of the local time zone, which is four hours ahead of GMT and can serve as a bridge between Asian and European trading.
"Our geographical location in Abu Dhabi gives us several advantages," said Mahmood Ebraheem Al Mahmood, executive chairman of ADS.
"It gives us the ability to provide liquidity during the four-hour period between the close of the Far East and opening of Europe when markets experience a shortage of liquidity and wide bid/ask spreads," said Mahmood, formerly with the Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds.
ADS will also allow its clients to be market makers and in the long-term ADS could emerge as a provider of liquidity for institutional and high net-worth traders, the broker said.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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